Supercars Tied Up in Alleged $364 Million Ponzi Scheme

More than 400 people have been taken for a financial ride as three men (Kevin B. Merrill, Jay B. Ledford and Cameron R. Jezierski) have been indicted in an alleged $364 million Ponzi scheme. According to an indictment from the Federal prosecutors in Baltimore, the 400+ victims/investors were told the trio would be buying up consumer debt portfolios. They were told they would be making money when either the debt portfolios were sold to third-party debt buyers for a profit or they collected payments people made on their debts. Instead, the trio opened phony companies that resembled consumer debt sellers, told falsehoods about who they were buying debt portfolios from, created false records, and used $73 million of the investment to fuel their lavish lifestyle. This lifestyle included a number of real estate properties and a large number of cars and motorcycles. Here’s a list of the cars the prosecutors are seeking the forfeiture of from two of the defendants named in the indictment:

According to a press release from the U.S. Attorney’s Office in the District of Maryland, this Ponzi scheme is “one of the largest ever charged in Maryland.” Unfortunately for some of these victims, they are still in the dark as to what’s happened with their investment. “Most of these investors are just learning that they have been victimized,” said U.S. Attorney Robert K. Hur in the press release. “We urge anyone who thinks they may be a victim to contact the FBI at www.FBI.Gov/MerrillLedford or e-mail MerrillLedford@fbi.gov.”